4 hrs ago
India-US Trade Talks May Have Reached Plateau, Sitharaman Says
India and the United States are still talking about a trade agreement.
Finance Minister Nirmala Sitharaman said the talks may have reached a point where it is hard for either side to make more changes.
She said the two countries could still look for room to negotiate further.
The trade balance currently favours India, and the United States wants to reduce its trade deficit.
Sitharaman said the talks are taking place under a framework announced in February 2026.
She also discussed India's trade agreement with the European Union.
India and the EU have agreed to open many areas of trade to each other.
Sitharaman said the commitments were chosen to fit the two economies and protect India's competitiveness.
Nirmala Sitharaman said India-US trade negotiations are ongoing but may have reached a plateau.
She said both sides may find further concessions difficult, though more negotiations could be explored.
Sitharaman said the trade balance currently favours India and the United States wants to reduce its deficit.
The negotiations are proceeding under an interim trade agreement framework announced in February 2026.
She cited the India-EU agreement, saying India opened 92.5% of tariff lines and about 97% of trade value.
- Who
- Finance Minister Nirmala Sitharaman discussed negotiations between India and the United States.
- What
- She said talks are continuing but may have reached a plateau, and described India's market-access commitments in its agreement with the European Union.
- Where
- Munich.
- When
- Monday, at the Munich Leaders Meeting 2026.
- Why
- The United States is seeking to reduce its trade deficit with India, while India is assessing whether further negotiations are possible.
India's position
US concerns
Trade negotiations
India's position
Finance Minister Nirmala Sitharaman said talks are continuing but that both sides may have reached a plateau where further concessions are difficult.
US concerns
Sitharaman said the United States is seeking to reduce its trade deficit with India and believes losses have accumulated in the relationship over the years.
Key facts
- Speaker
- Finance Minister Nirmala Sitharaman
- Event
- Munich Leaders Meeting 2026
- Negotiation status
- India-US trade negotiations are ongoing
- Interim agreement framework
- Announced in February 2026
- India-EU agreement: India's commitments
- India opened 92.5% of its tariff lines and about 97% of trade value
- India-EU agreement: EU commitments
- The EU opened about 99% of trade value and around 97% of tariff lines
- India-EU agreement: stated scale
- The agreement would cover economies representing about two billion people and around a quarter of global GDP
Quotes
Nirmala Sitharaman
India’s Finance Minister
“The negotiations are still ongoing although we would like to believe both sides have reached a plateau beyond which giving or taking might be very, very difficult.”
NDTV
Sources
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